Equal Energy Ltd. (NYSE:ENT) shares traded up 3% during trading on Thursday . The company traded as high as $7.89 and last traded at $7.80, with a volume of 258,970 shares traded. The stock had previously closed at $7.57.

Separately, Zacks Investment Research downgraded Equal Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th.

The company has a 50-day moving average price of $7.06 and a 200 day moving average price of $8.41. The company’s market capitalization is $591.67 million.

Equal Energy (NYSE:ENT) last announced its earnings results on Monday, May 9th. The oil and gas exploration company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by $0.01. The company earned $113.80 million during the quarter, compared to analysts’ expectations of $112.29 million.

A number of hedge funds have made changes to their positions in ENT. Stephens Investment Management Group LLC increased its stake in shares of Equal Energy by 4.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 991,704 shares of the oil and gas exploration company’s stock valued at $9,788,000 after buying an additional 37,998 shares during the last quarter. Royce & Associates LLC increased its stake in shares of Equal Energy by 50.5% in the fourth quarter. Royce & Associates LLC now owns 164,400 shares of the oil and gas exploration company’s stock valued at $1,623,000 after buying an additional 55,200 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Equal Energy by 36.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,129,458 shares of the oil and gas exploration company’s stock valued at $11,148,000 after buying an additional 301,888 shares during the last quarter. Columbia Wanger Asset Management LLC increased its stake in shares of Equal Energy by 28.9% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 2,278,304 shares of the oil and gas exploration company’s stock valued at $22,487,000 after buying an additional 510,734 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new stake in shares of Equal Energy during the fourth quarter valued at $9,640,000.

Equal Energy Ltd. (Equal) is an exploration and production of oil and gas company. Equal’s oil and gas properties are located in Oklahoma. Equal Energy has an indirect, wholly-owned subsidiary, EEUSHI. EEUSHI holds all of Equal’s Oklahoma oil and gas properties and associated assets through its wholly owned subsidiary, Equal Energy US Inc The Company also reviews new drilling opportunities and potential acquisitions in Oklahoma to supplement its exploration and development activities.

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